Wednesday, December 31, 2008

2008 Lost Legacy Prize Awarded to Fred

Comment of the Year in Left Blog (HERE):

“ECONOMY MELTDOWN: this isn’t over”

“I would love to know the word count for “greed” in the collected works of Milton Friedman. (I always specify that no money I send to the U of C will _ever_ be dispersed to programs in economics.)

I would also love to know the count for “invisible hand”. (Adam Smith used it _once_ in a passage that seemed to me to imply that good results did sometimes happen, but not always.)

Y’all hang in there – Fred”

Brilliant riposte! And good sense and awareness shown by 'Fred'.

After a long year of mythical views of Adam Smith, along comes Fred and demolishes a myth in short order.

He is a worthy winner of the 2008 Lost Legacy Prize.



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